Indianapolis Times, Volume 35, Number 111, Indianapolis, Marion County, 18 September 1922 — Page 10

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BHIEFPRESSURE LOWERS STOCKS MIL SHEET Professional Operators Use ‘War Scare’ as Basis for Reactions. SOME OVERCOME LULLS Traders Check Weakness by Starting Covering Movement Near Close. Twenty active industrial stocks Sat- i urday averaged 100.43, off 56 per cent; twenty active rails averaged 93.38, off 32 per cent. By United Financial NEW YORK. Sept. IS.—The Wall ; Street Journal today says: Wail Street today enjoyed its first ‘‘war scare" in several years. Taking their cue from the pressure existing in London and Montreal, professional operators sized up the situation in the Near East to be about as good a pre- ! text as any for bringing about the reaction to which the market was en- j titled on technical grounds. Concerted pressure on a group of stocks prominent in the recent ad- i vance was successful in starting a re- : actionary movement which had gained considerable momentum by ■ 1 o'clock. Declines of 6 to 10 points from their recent bighs occurred in stocks like Baldwin, Studebaker, American Ice, Consolidated Gas and many industrial specialties while Norfolk & Western and most of the active rails had to absorb heavy selling. Sterling, after registering an initial i recession of about 114 cent, showed an upward trend the remainder of the cay. This was also true of the more Important continental currencies. Realizing that. weakness in stocks cn the disturbing European outlook was hardly in keeping with sentiment in the various foreign exchange trad- j ers started a covering movement and ! the general list showed a decidedly ! better tone during the last hour. ! Professional operators made the most of the uncertainty existing over the foreign situation in the first half i hour. Stocks in the general list were j subjected to large offerings for the short account together with hurried ■ throwing overboard of holdings ac- j quired at or near the recent tops on j the theory that prices were going immediately higher. After the first flood of selling had been absorbed the market showed a better tone. Steel common rallied to 104, a half point recovery from its low. Baldwin re- ! hounded one to 134 \, and Mexican , Petroleum, 114 to 15914. Rails showed a relatively firm tone while the general market was under ; pressure. The sturdy resistance in j Union Pacific, New York Central and i Southern Pacific suggested persistent , accumulations. The buying was based , not only on the improvement in the j railroad labor situation, but in earnings outlook of the representative systems. Pr.ces in the general list fluctuated nervously in the second hour. Although selling appeared to be less urgent, little response was made to a ' 6-cent rise in wheat and stocks ills- j played few indications of rallying power before noon. Despite heav nes3 j In industrial leaders, several special-1 ties displayed strength. Texas Gulf j Sulphur made anew high at SSU and Loews at 23%. Lackawanna Steel advanced about a point to 81% on rati-1 fleation by Bethlehem stockholders of j the plan for absorption of the former. I Renewed selling broke out shortly ! after noon and prices broke to further new lows on the reaction. Considerable comment was heard regarding the effect of the foreign troubles, j hut it was evident from the action of prices that the situation abroad was merely on excuse for a setback to which the professional element believed the market was entitled because of the prolonged advance. At lows touched around 1 o’clock the active industrials showed substantial recessions from their recent high3. Baldwin was off nearly 8 points at 132%, Studebaker off 7% at 126%, Crucible down 10 at 87, American Ice 10% at 111% and Consolidated Gas off 7 at ISS%. Although Norfolk & Western broke to 119, off more than 6 points from the recent high and losses of 1 to 2 . points were suffered by other activo rails, the carrier group as a whole had much better support. LOwoc BANK CLEARINGS Indianapolis bank cleat-inns for Monday were 53,197,00: bank debits were 50,284,000. NEW YORK MONEY MARKET By United Financial NEW YORK. Srpt. 18.—Time money for sixty and ninety days accommodations is at 4‘t and 4*3 per cent with longer terms Vi per cent higher. Commercial paper Is at 4Vi and 4%. FOREIGN EXCHANGE By United Financial NEW YORK. Sept. IS.—Foreign exchange opened easi'-r: Stirling, demand. 54.41%: cables. $4 41%, of? I%C. French, demand. 7.52 c: rabies. 7.52 %c, of? .06!jc. ■ I.ire. demand. 416 %e: cables. 4.17 c. o?f .02%e. Belgian, demand. 700%c; cables.: 7.10 c. off ,08e. Marks, demand. .06 %e: • cobles. .06 %c. Drachma, demand, 8.20 c: cables, 3.25 c. Swie=. demand. 18.62 c: cables. 18 64c, off .08. Guilders, demand. 38.60 c; cables, 38.03 c, off .14c. Pesetas, demand, 15.10 c. cablee. 15.12 c. off .05c. Swede, demand. 26 36c: cables, 26.40 c, off 10c. Norway. demand. 16.80 c: cables. 16.90 c. up .08c. Dane, demand. 20.99 c; cables, 21.03 c. off -15 c. MOTOR SECURITIES (By Thomson & McKinnon) —Sept. IS——Closing— ; Bid. Ask. i Earl Motor* 2% 2% Col. Motors 3 3>i i Packard com 14% 14% Packard pfd 88 90 Peerlees 58 60 Continental Motors com... 10 10% Conlim ntal Motors pfd ....101 105 Hupp com 22 22% Hupp pfd 105 110 Reo Motor Car 13 13% Klein Motors 1% 2 Grant Motors % % Ford of Canada 405 410 National Motors 2 3 Federal Truck ... 19 21 Paige Motors 22 23 Republic Truck 3% 3% CLEVELAND PRODUCE CLEVELAND. Sept. 18.—Butt-r—Extra In tub*. 44 ®44% c: prints. 45®45%c: firsts, 42®42%e: packing stock. 23(325%e. Legs—Fresh gathered northern extras 37 He: extra firsts, 35%c: Ohio*. 32cwestem firsts, new cases, 28c. .Poultry— Live, heavy lowls. 26c: roosters, 14® 15c: spring ducks. 19 ® 22c.

New York Stocks (By Thomson & McKinnon* —Sept. 18—•

Railroads— Prev. High. Low. Close. CloseAtehison 10 > 104% 105% 107% ! At. Coast L.. 120% 119% 120 121% 18. 4 0 57 55 % 56% 57% j Can. Pacific. 147 144% 145% 148 |C.‘4 0 75% 73% 74% 75% O. & N. W. R. 83% 92 92% 93% ! C.. R. I. & P. 47% 45% 46% 48% Del. & Hu11..133 % 136 136 139% Del. & Lack. 134 133 133 135 % ; Eric 16% 15% 16 Vi 15% I Erie Ist pfd. 25% 24% 25% 2.>% Gt. No. pfd. 95 93% 94% 94% 1 ill. Central...ll2 111% 111% 114% IK. C. South.. 24% 24% 24% 26% Lehigh Val.. 69% 67% 68% Ojl % ;L. & N 136% 136% 136% 1 M.. K. it T.. 18 % 18 18 18% Mo. Pac. pfd. 60% 60 60 61% N. V. Ceu... 99 97% 97% 99% ISTSH4H 32 31 % 31 % 82 % North. Pac... 88% 86V* 87% 88% I Nor. & We5t..121% 118% 120% 122% i Pennsylvania 48 % 48 48 % 49 % l Reading 79 % 78 78% <O% i So. Ky 26% 25% 25% 20% I So. Pacific.. 94% 93 93% 91% ' St. Paul .... 33 % 32 % 33 % 34 St. P. pfd... 51% 50% 61 j>2 St. L. & S. W. 32 % 31% 31% 31% St L & S F R 30% 29 % 29 ■, .10 s. ' Tex. & Pac.... 31 30% 30% 31% Union Pac...152% 1.50 1->I % 1 H I Wabash 12% 12 12% J~%| ! Wabash pfd. 33% 32% 32% 33% West. Pacific. 18% 18% 18% •••• ! | Pcht. &W. V. 38% 37 3/ % 39 j Chi. &G. W.. 0% 6% 0% 0% | C& G W pfd 15 14% 14% | Rubbers — | Ajax Rubber. 15 14% 14% 14% } Goodri h Rub 34 % 34 % 34 Vi - * I Kelly-Spring .43 42% 43 43 4 > K.-t TAc RCo 8% 8% BV* 8% U S Rubber. 54 62% 63 o3 A Kquipments— Am C and F..157 184 184 18$ Am L0c0.... 123 121 122 V% 123 s Baldwin L0c0.135 132 134 ,a i 'inn Elec ...176 176 176 182 Lima Loco.. 62% 60 61% % Am Steel F. 44% 42% 43% 4* % P. Stole C... 91 90% 90 is 92% Pullman.. 133% 131% 133 134 Ry. Steel 5p..117 116% 11 ■ West. Elec... 63% 02% 03 63% Steels—- ; Beth, tA). .. 75 75 75 .... Beth. <8)... 78% 76% 77% 77,* I Colo. Fuel 35% 33% J-> % ™ i Crucible .... 02 87 90 % 9-i Gulf States.. S3 78 80% 84 i i.HCKawauua. 83 80 81 g?,* ) Midvale 34% 33% 33% 34% 'Otis 11% 11% 11% 11.> ! Reploffte •••■ 33% 32% 3~ % jJj* • IS. Iron &S. 69% 68 68% .0 s!os* She Held 50 4!> *•; AIV IT. S. Stel. . . 104 H 103 103 1 4 104 * * u! S. Steel pf. 122 122 122 12H Vanadium.. . 51 % 4J a Motors—i Am Bsch Mag 42H 41 41 R i • ! Chandler Mot. f2 H 01 H 02 4 02 4 I Gen Motors.. 14N 14 4 14 4 *4 n Hupp Motors. 224 214 21 ,* '•2 * Hudson Mot. 22 21 4 214 r' Max Mot “A* 554 57 4 58 58** Max Mot "B ’ 10 18 4 18%* 10 4 Mack Motors. 584 57 5*!,. ’Martin Perry. 314 314 314 33 I Pierce Arrow. 114 114 114 12 Studebaker .120 4 120 4 127 4 13° i Stromberg’... 54 4 514 53 50 j i Stew-War... 474 47 47 4 48 j Willy* Over. 7 4 7 4 7 4 ‘4 White Motors 514 50 4 604 ol Minin::* — ! Butte C & Z 7 4 7 7 7 i Butte Sup... 32 4 30 4 31 314 Dome Mines. 38 4 37 4 37 4 30 : Int Ni'Hsel.. 174 174 174 1* _* Tex G & 5... 68 4 55 57 4 66 u i ! Coppers—jAm Smelt... 034 02 4 32 4 84 ’Anaconda... 54 53 53 4 54 % I Chile Copper. 23 4 23 4 23 4 1-3 s Inspiration... 41 40 4 40\ ....

BOND VALUES RECEDE Few Issues Escaped Downward Swing During Session. By TV. If. GRfUFS I United Financial Staff Correspondent. NEW YORK, Sept. 18.—Bond prices , today showed the most general, most j decided recessions of any day since the , I fall investment demand began to t 1 make itself felt in the latter part of j I August. The better grade bonds .as | well as the speculative issues were I hit. Liberties held steadier than other : groups, having had their drop from ! the year’s high some time ago, but even the Government issues sold off j slightly during the day. Foreign bonds with a war in | Europe at least not an impossibily de- | clined with the foreign exchange mar- ] Vet. French City bonds sold off. The I French government TVjs at 95%. wero ! off 1% and the 8s got down to 100. British 5%s of 1929 were off 1 at 106 H ; and Belgian securities suffered in ' j about the same ratio, i The speculative rails were naturally the most open to attack. Missouri Kansas & Texas adjustment 5s at | *>2%, were off 1%: Seaboard 6s at 66, were off 2%. Frisco issues also sold j off, but not as far as some others. The better rails did not escape the ■ } recessions. New York Central ss, 1 j which have been a steady gainer in i face of temporary setbacks in other quarters of the market, lost a full point to 98%. In the industrial group Wilson 7%s went back to 107% after a recently rise above 108. In general industrials \ were sold less than the rails. ; new yorkTiberty bonds —Sept. 18— Prev. High. Low. Close. clone. J L. B. 34b 101.30 101.10 101.30 100.24 I L. n. Ist 4 Vis.loo 58 100.50 100.50 100 58 L. Ti. "and 4 %s. 100.1 4 100.06 100.08 100 14 | L I), .'id 4 %s. 100.36 100.26 100.26 100.20 L. B. 4tb4%a. 100.56 100.41 100.40 100.50 Victory 4 %s. 100.76 100.70 100.76 100.72 ACTIVE OIL STOCKS (By Thomson & McKinnon) —Sept. 18— . —Closing— Bid. Ask. Anjrlo-Amtrimn Oil 19 % 20 Atlantic Refining. Lobos .... 9 % 9 % l>orne-Scrynißer 440 460 Puckeye Pipe Line 96 98 Chesebrouerh Mfg. Cons 180 185 Continental Oil, Colorado. ... 140 145 Coßden Oil and Gas 5 11 Crescent Pipe Line 35 37 j Cumberland Pipe Line ....*.145 155 Elk Basin Pete 10% 11 Eureka Pipe Line 95 98 Galena-Signal Oil, pfd 107 111 Galena-Signal Oil. corn 54 57 Illinois Pipe Line 172 175 fine Line 95 97 Merritt Oil 8% 0% l Oil 2 2 % Midwest Rfg 225 National Transit 20 27 New York Transit 175 185 I Northern Pipe Lnie 105 108 ; Ohio Oil - 199 305 i Penn-Mex 27 30 Prarle Oil and Gas 605 615 1 Prairie Pipe Lino 265 270 Sapulpa Refg 3% 3% Solar Refining 340 S.iO Southern Pipe Line 95 98 South Penn Oil 220 225 Southwest Penn Pine Lines. . 02 05 Standard Oil Cos. of Ind 117 117 V* Standard Oil Cos. of Kan 560 570 Standard OH Cos. of Ky 108% 109 Standard Oil Cos. of Neb 175 185 Standard Oil Cos. of N. Y 472 475 I Swan & Finoli 32 35 ! Vacuum Oil 475 485 Washington Oil 20 25 CHICAGO STOCKS (By Thomson fc McKinnon) —Sept. 18— Open. High. Low. Close. Ar & Cos pfd. 99% 99% 99% 99% Com Edison 130% 131 130% 131 Con. Motors. 10% 10% 9% 9% L-McNeill new 8 37% 8 Mont. Ward. 22% 22% 22% 22’4 Nat. L. new. 7% s 7% 8 Pick 4 C 0... 27% 27% 26% 26% Pig. Wig. (A) 44 44 42 Vi, 42% Reo Motor.. 13% 13% 12% 13 Stewart-W.. .. 47% 47 % 47 47% Swift A Cos.. 109 % 109% 108% 109 Swift Inti.... 24% 24% 23% 23% Tuom (.1 R) 50 50 49 “4 50 r C & Car.. 02% 02% 60% 61% Wahl 60 00 59 59 Wriglev . . . .106 100 105 105 Yellow Taxi. 73% 73% 72% 72% WASHINGTON —The geological surrey estimates the last week's output of bituminous ,-tiai at about 9.500.000 tons and antliraeite at about one-tenth of that figure. 1 Transportation is the dominant and limiting factor in coal.

Prer. High. Low. Close. Prev. Kenneeott 36% 35% 35% 30 Vi Miami 29% 29 V* 29% Nevada Cons.. 10% 6 16 15% Ltah Copper. 08 67% 07 Vi 69 Ray Cons.... 15% 15% 16% 10 U. S. Smelt.. 42% 62% 42% . . Oils— Cal Petrol... 64 02 % 02% 64% Cosden 51 % 49 60 62% Houston Oil. 80% 78Vi 80 81 Vs Invincible Oil. 16% 16 10 15' Petrol..ioo 186 Vi 188 190% Mid States Oil 13% 13 Vi 13% 13% | 58.... 20% 19% 20 Vi 19% , Pan Am Petrol 80 78% 78% 80% “* 6 * Pro and Ref. 67% 4747 as Pure 0i1.... 33% 31% :ii7' mk Dutch. 58% 60% 57% 69 Std Oil Cal. 114 V* 110 V* 112% 114% tinei J " 185 * 4 18;1 184 187% Sinclair .... 34% 33 >4 33% 34% Texas Cos 48 40 5* 47 g. 411 Texas C. &O. 20% 25% •*,-,(£ e,,, 4 T-Con. Oil.. 14% Lniou Oil L. lu a; i<i -j/ i' White 0i1... 8% BV* BV* ~3V! Industrial*— ! Allied Chem. 84-% 83 Ai 84 4v, | Allis-Chalmers 57% 50 J 56% 57% j Amer. Can. . 01% 59 DO 1 :* 01% Am H. &L. 13% H % £i* 01 * AH A L pfd 71% 71 71 ! Amer. lee... .114 111% 113.% nr," I Amer. Linseed 39V* 37 37 ;iB% ; Am. Woolen ;i:i % <lO% 971/ ~9 . % ‘tell. Leather. 42% 41 41% 42% Coca-Cola 69% 05 >* 07 V* 611% Comp. & T.. 74% 73% 73% 74% Cluett &P.. 03 Vi 02 62 64% Cont. Can... 80% 80 80 Endicott-J.. .. 87 Vs 80 V 4 86% " l’am. Players 99 % 96117.% 100% Gen. Asphalt 04% 03% 041, or, Inter. Paper. 58 •> 56 Vi 58 >4 59 Vi Inter. Har... 110% Hu lit).'., IK).. Loews 23% 22 22 V 4 221* May Stores. 135 135 135 135 Mont. A W.. 22% 22% 22% 22% Nat. Enamel 01% 51) % tuj 02 ' Nat. Lead... 104% 104 104% Owen Bottle. 38 37% 37 % 38% I’ilts. C0a1... 70 % 00',j 70 71 % Sears-Roc.. .. 90 88% 88% 90 % 1 Tilted Drug. 79 V* 70 % 70 c, 80% IT.1 T . S. Retail 8. 84 52% 82% 84 ' U. 8. C. I. 12. 34% 34 34 34% U. S. In. Ale. 64 0% 63 % 04 % Worth. Pump 42% 42 43 Utilities— Am. T. & T. 123% 123% 123% 124 Brk. R. Tran. 25% 25 25 25% Consol. Ga 5.140% 138% 139% 141% Colum Ga5..112 V* 109% 110% 112% People's Gas 97 05% 05% 07 West. Union. 115% 115% 115% 110 Shipping— Am. Int. Cor. 30 35% 35% 30% Am. S. A C\. 20% 20% 20% 20% , Atl. Gulf 31 31 31 | In. M. M .... 14 14 14 14 % 1 In. M. M. pf. 59% 57% 59% 69 United Frt.,152 150 V* 151% Food*— Am. Sugar... 81 % 81 % 81% 82% Am. Beet Sg. 45% 45% 45% 40% Austin Nich. 37% 35% 30% 37 Am. Cot Oil 29% 28% 28 % 28% Corn Prod .110 114 )li% lit; 1 Cub. Am. Sg. 25 H 25 25 14% j Wilson & Cos. 48 % 47 % 47 % 48 % Toluieeos— Am. Sumatra 42% 41 % 42 43% Am. Tob. Co.lol 158% 101 102 Gen. Cigar.. 80% 80 80 , 80% Tob. Prod... 87 83% 80 87% Miscellaneous Stocks— Alaska J.... 1% 1 1% Am. Rad . .110% 117% 117% 119 . ; Tenn. Cooper 10% 10% 10% 10 j Dav. Chem.. 02 fd)V* 51% 51% Elec. S. Bat. 50% 40% 40% 50% I l’ere Marqeut 37% 30% 37 V, 38 I North Am... 95% 93% 01% Oil % Plitla. C 0... 44% 4 1 44 44% Skelly 0i1... 10% 10 10% 10% 8. Oil of Ind 117 % 115% 115%

Total sales, 1.331,500 shares.

CURB YIELDS TO LOSSES Follows Declines Characteristic of Security .Markets. By If. //. H RIM US United Financial Staff Correspond)nt. NEW YORK. Sept. IS.—The New York curb market today acted in ac j cordance with other security markets j and the trend of nearly all stocks j for the day was downward, the late prices In most cases being the lows | of the day. Gulf Oil, the new gulf oil of Penn ' sylvania, and to some extent Maey. were exceptions to the general trend. Gulf Oil reached 737. The new shares into which the old is to bo split advanced steadily and reached near 62. an advance of more than 5 points foi the day. Many went to CO early | in the trading but later reacted to i where it was up only a fraction over ; Saturday’s prices. Standard Oil of : ! Indiana was weak throughout. It sold ; below 115 for a whilo but again got i above this figure. Mutual and Simms : were leading the independents and j both went below 11. They broke through 11 only recently. Continental Motors was another stock which had a recent advance, but turned backward. It got below 10. NEW YORK CURB MARKET (By Thompo'i & MoKlnnoa) —Srpt. 18 — Closing Bid. Ask. Aorrm Parkin* 4U 4"> Curtirt A*to com II 4 % Curtis Aoro pfd 24 28 Boston Ac Montana 10 11 Boston & Montana Cor. 70 72 Goldfield Con 0 8 Jumbo Extension 5 7 International Petroleum 21 V* 2i ft i Kirby Oil 4_ 5 Nipiasiner t! r 4 8% I Standard Motors 1 4'a Salt Creek 15M 15’a Touopah Extension. ... 2 T, l 2 % Tonorah Mining 2 5-10 2\ United P S new (Pi 7 V .S. Light & Heat 1 H 1^ r s. Light & Heat pfd. I f 3 l a * Yukon Gold Miuo Cos. . . 90 9S Jerome 3% 3% New Cornelia 18 10 United Verde 20 % 30!* Sequoyah 2 8 Omar Oil 1 0-10 1 % Uepublie Tire 20 .00 IN THE COTTON MARKET | By J'nltrd Financial NEW YORK. Sept. 18. —An arrumnlation of soiling orders over the week-end prompted by unfavorable outside eonditions Bent cotton 15 to 25 points lower at the opening today. Dometdie trade accounts were bullish. but were wholly overshadowed by the Turkish situation, easiness of foreign exchange and poor eablea. Open. High. Low. Close. .Tanunry 21.12 21.20 20.87 21.18 March 21.20 21.28 20.97 21.25 May 21.15 21.25 20.02 21.15; July 21.10 21.05 20.75 21.00 October 21.10 21.17 20.80 21.13 1 December ....21.26 21.33 21.00 21.28 By United Financial | NEW ORLEANS, Sepf. 13—Driers on the I ! cotton market at the opening today showed the effect of a lack of the usual buying j orders that acumulate over the holidays and futures were down from 18 to 24 points. In the first two hours of trading cotton prices continued their downward trend. Losses of from 28 to 38 points from opening prices were registered. By United Financial LIVERPOOL, Sept. 18.—Cotton showed j fair spot demand. Prices easier: sales, } 8.000 bales; receipts. 13,000, including j 8.200 American. Futures opened quiet. | The market closed barely steady. Open. High. Low. 12:30. October 12.43 12.43 12.35 12.41 i December 12.1!) 12.19 PM!) 12.19 January 12.18 12.18 12.10 12.13 March ...... 12.00 12.06 12.01 12.05 May 11.92 11.94 11.92 11.9-1 j BOSTON WOOL MARKET By United Financial BOSTON, Srpt. 18.—Thr feature of the loral wool markrt appran* to be the hravy withdrawals of light shrinking wools from | bonded warehouses possibly to avoid pay- j ment of higher duties under the permanent j tariff. There nppears to be an effort to withdraw all wools upon which the duty is higher than the present, low. Another feature in the lo<*al market Is the purchases of large blocks of Ohio wools, sales possibly reaching a total of 700.000 bales Strictly fine staple wools nre reported scarce, some millions of territorial wools sold by a local house last week: tliree- ! eighth bled Is selling at between 70c and t 80c a pound. I NEW YORK—Beginning today trailing on 1 the floor of the American cotton exchange was suspended pending the outcome *>f its appeal front the judgment entered against U on chare* of bucketing.

THE INDIANAPOLIS TIMES

LIVELY DEMANDS BOOST PORKERS fITLOCftLYSRDS Cattle Deals Prove Strong, . With Calves Spotted and Sheep Firm. Hog Prices Day by Day 11 sß.f)o® 9.35 $11.450) 9.55 $9.60(f 9.05 12 8.90 ('M 9.35 9.45® 9.00 9.70® 9.75 13 8.90® 9.35 9.45% 9.00 9.70® 9.75 14 9.00® 9.50 9.60® 9.75 9.85® 9.90 15 9.00® 9.50 9.00® 9.75 9.89® 9.85 10 9.00® 9.50 9.60® 9.75 9.85® 9.90 IS 9.25® 9.75 9.85® 10.50 10.10® 10.15 A lively demand from both packer3 and shippers shot prices up 10 to 25 cents in the hog market of the local livestock exchange today, despite heavy receipts of 6,000. The market opened 10 cents up, with a top of about $lO, but soon bids were raised to $10.15 for best light hogs. At these figures trading did not abate, but continued with frequent sales. Heavies and pigs also enjoyed the same advances, best pigs selling as high as $lO. There was a good clearance for the day, and the hold-over from Satur- J j .lay's market was small at 435. I Cattle trading was strong, but there j were very few choice steers to be had, regardless of price. The prices for j liest steers remained at j Receipts were good at 1,000. In the calf alleys a spotted market existed, with one trader buying heavily at steady figures. The rest of the trading, however, was about $1 lower j n all grades, with traders predicting I still further drastic reductions. The I top for tlie day was about sl3. Repts were u trifle heavy for Monday at 700. Sheep and lamb -rhding was at steady figures with 300 received. Best •wes brought a top of $5.50, and the iamb top remained at sl4. —TToe*— 150 to ISO lbs slo.lo® 10.15 180 to 200 lli* 10.05® 10.10 200 to 225 ll>* . 9.85 ® 10.00 ‘.’25 to lbs l>.7.V(t !>.!) 2CO to :KH) lbs Qi o.7't 1 *yt 000 ibs ... ‘LOOh IL'JJ Top 10.1.7 T M n.MM'inno Light pfwkintr sous 7.2.Vac 7.70 Heavy mixed packing 7.00\t 7.2.* States b.OOSti G. 50 1 Few choice steers | Prime corn-feu steers. 1,000 to l .'JOu lbs > Good to cnoire steers. 1.000 to 1.300 lbs 0.00& 0.50 I Good to choice steers. 1.000 to 1.200 ibs 800 900 j Good to * hoi*-e steer*. 1.000 to 1.100 ibs 7.60*1 8.00 Common to medium steers, 800 to 1.000 lbs 5 50© 650 —lows and Heifers . j Good to choice heifers .... 7.27 <u 7.70 i Medium heifers 6.50 w 7.00 Common to medivim heifers .. Good to choice cows 6.70 7 00 1 Cumoiutt to good cows 3.(10 (rC 7.70 Cutters 2 77 if 3.25 ! Cannert 2.00 ti 2.70 Bulls— Fancy butcher bulls 6.00® 6.75 Good to < hout* butcher bulls. 4.27 ‘ii> 4 77 Uologaa bulls 3.:.vj, 1.70 i Lie lit bologna bulls ........ 3.27 fa 3.75 J —calves— Choice v als .... 10.70 *t 12.70 I .*nd veals 9.7 mm 10 70 ! MfxJium veals 8.70 u 0.70 1 Li.;htweiffht veals 7.00(u 8.00 H*avyweight veals 6.7(1 :t 7.50 Comon heavies 7 7u (J. 70 Top 1300 —Mockers and Feeder*— Good to choice steers ui.aer 800 lb* 6.75© 700 Medium cows 3 owfl 3.50t| 4.00 Medium to goo. heifers 4.27 w 7.50 Milch cow* and sprmsrers .. . 37.00 (a 87 00 Mieep ami Lambs—- ; Culls ewes 2.27 U 277 Good to choice ewes 2.75'u 5 70 Bucks 3 27 3.77 Yearhnifs ! Springers 12.70<u, 14.00 j Culls 3.7. y, 0.00 OTHER LIVE STOCK ‘ By Unitrd Financial CHICAGO, Sept, is—Hosts—Receipts 38. j ooo; market, hlhv, to 10c up; top. bulk of Hal s. 7-7.77 ()X 10.07; iu .ivy w. u-lit. Sh 77 n 0.80; medium weight. >7.7o'*tß 4U heto weight. ?0.N311 10.10; light lights, Sl 40<it 0.77; heavy packing sow-.. 40. pecking hows, rough $7.25ii?7.77; pigs. ?‘5.70fit9.27. Cattle—!l*< ipla. 24.000: market, a. tivn st* aciy to stronj; choice nial prime. Sio 77(0.1 1 .**(); medium ami good. 57.5mi10.77. common, *r..17 'a 7 00; j Mid choice. so.4O(ri 11.17: common and medium. H (O; butcher *-attic and hellers. 87(440.70: cows. rln*4o: bulls. '54.17((4 (J 87; <• inner*, cutlers. cows and heifers, 5-2.90(ft I : < anner steers. 5-3.77 (<t i 70; wal mlves. 5-1 i77 13.70 f*-cd* r steers, *-7.67 (/. 3.37; stock* r stwrs. S4 'a 7.25; stocker cow sand heifers. £3.27 <£ 7.10. Sh*ep—Kf-c*-ipt*. 2M.000. market, mostly steady: lambs, £l3(<{, 14.10; lambs, cull and common. $Ol2 77. yearling wethers. SOH j 1 ey.es, £3.77 <*4 7; cull to coinmou ewes, I NEW YORK. Sept. 18.—Stt*ers- —Supply,! moderate: market on common, sll'*tl3:| market on others, sl4 fit 18; selected < hoice, light: market, sl<'ftl3; demand, fair Luis —Supply. nuMlerate: market on common, $6.50(0 7: market on others. sS(jijo: demand, pood. Veal—Supply, moderate: market. >1 'it2 higher: demand, rood. J.ambs—Supply, moderate; market. s29'a 30; demand, good. ; Mutton—Supply, moderate; market, good. ! $14U10; demand, rood. Pork—Supply, moderate; market. demajid, good. (TNCINNATI, Sept 18—Cattle—Receipts. 3.800; market, steady to weak; shippers. s7'tt9; < a!ves, market, steady; extras. sl2 H 13. Hogs—Receipts. 5,000: market. a<*tive steady to higher; good to choice packers. $10.17. Sheets-Receipts. 600; market, steady; extras. $4.500f5 50. Lambs—Market, steady; fair to good. $13.50 &14 CLEVELAND, Sept. 18.—Tings—Receipts, 0,000; market, 17c up; yorkrrs, $10.27; mixixl, $10.27; medium, $10.25; pigs. $10.15; rouuhs, $7; stairs. sl. Cattle—ltcccipts, 1,200; market. 27c up: good to choice bulls. $7.70 (it 0.70; good to choice 1 steers. so.7o(tt 10.50; good to choice heifers, *7 Ct%B\ good to choice cows. $4.70 f <( 7.70 ; fair to good cowh, common cows. s3'lt3; milchere. Sheep and lamlw*—Receipts 5.000; market. 27 (<$ 70c lower; top, $14.25. Calves—Receipts, i 1,000; market, steady; top, sl4. j EAST BUFFALO. Sept. 3 B.—Cattle—Reeeipts. 2,800; market, firm: shipping steers, 1 $9.25(010.27; butcher grades, $7,704*9.37; ! heifers, $7.50 <1 8.27; cows. bulls, $3.25(t/)7.27. milch cows and springers. $27 (H 1 110. Calvi-s —Hes’eipts. 1.300; market, active to 500 lower; culls to choice, I Sheep and lambs—Receipts, j 9.400; market, active, lambs 10c lower; i choice lambs. sl4to 14.77; culls to fair. sßto 13.75; yearlings, s7to 10: sleep, $3t07.70. Hogs—Receipts, 10,500: market, activo to 10to 16c higher; yorkrrs. pigs, $10.37t0 10.40; mixed, $10.37t0* 10.40; heavies. $0,506(10; roughs, $0.50t07.50; stags, s4.7o(it 5. j KANSAS CITY, Sept. 18.—Hogs—Re- ! eeipts, 9.000; market 17c up; bulk. $9.10t0 i 0.70: heavies. $8.9047 0 25; butchers. $9.20 I to 0 70; lights. $0.25<9)0-00; pigs, $8.70 to 0.25. Cattle—Receipts. 31,000; market, I steady; prime fed steers, $9.77t0 10.87; j plain to fair dressed beef steers, $0.25t0 9.77; western steers. $7 to 9.27: southern steers. $3.75 8.25; cows. $2.50(®6.50; heifers, sL2sto 0.50; ptockers and feeders, $4.27 to bulla, $2.27 to 4.70; calves, $5.60t0'11. Sheep—Receipts, 6,000; market. steady lambs. $12(9)13.87 yearlings, $970 to 10.60 wethers. $6.77 to 7.25: ewes, $4.70 to' 7; stockers and feeders, $9.70 to 12.25. COTTONSEED OIL NEW YORK. Sopt. 18.—Cottonswxl oil sales totaled about 4.00 barrels; the market ! advanced 10 to 29 points. The strength in the nearby positions, the firmness in grains, the moderate advance in lard and war talk, together with a moderately bullish Government report on oil. brought about sufficient •commission house demand and short covering to make a strong market. Refiners brokers wx're moderate, sellers aud the weakness in cotton attracted some attention, but offerings of crude remained very light and hedging pressure was limited. The Government neport showed August consumption at 168.00 barrels. Seed receipts during the month were around 91.000 tons, against 120.000 tclis last year, confirming the small seed movement. Southeast and veley crude, 6 H bid. Texas 6\h with crude offerings front (he South very light aud the market more or less nominal.

CORN AND WHEAT BULLETIN For the twenty-four hours endinj at 7 a. m„ Monday, Sept. 18. 1933: Temper- „ m ature xj o- G . o *• a a _ o ® a 3 _ o 2 3 dl - ►, e* ||.9 tJS 13 2 S si a II 1° |a| a*l "■3 -I os £ e § Sign K ©o A South Bend .. . . 64 45 0 Good Angola 67 42 0 Good Ft. Wayne 04 | 46 j 0 Wheatfield 73 !38 0 Good Royal Center ... 0(3 143 0 Good Marion 05 |42 0 Good Lafayette 68 145 0 Good Farmland 08 140 0 Good Indianapolis .... 07 145 0 Good Cambridge City. . 08 142 I 0 Good Terre Haute .... 70 1 48 I 0 Bloomington .... 80 142 I 0 Good Columbus 78 140 I 0 Good Vincennes 80 49 ! 0 Good Paoli 75 147 1 0 Good Evansville 78 | 52 1 0 I Light frost at Columbus. J H. AUMINGTON. Meteorologist. Weather Bureau. coili! RECEDE SHARPLY in CLOSING HOUR Recessions Through Entire Market Follow Morning Advances. By United Financial CHICAGO. Sept. 18. —Grain prices xvorked on a wide range on the Chicago Board of Trade today. Reports lof a lartte export business, worked ! over the week end on the strength of ' tho war cloud in the Near East, gave the market a war-time appearance during the morning, wheat leading tho trade to a bulge of 5 1 i cents. There was a sharp recession near the close, however, as more reliable reports from the seaboard indicated early estimates of the volume of ex port business had been exaggerated. The market was firm at the close. Wheat, advancing from 3 to 4 cents in tiie first hour of trading, continued upward until s'-j cents over opening figures at noon. Selling and profit taking near tho close pressed prices off to recessions of 2 to 3 cents over the opening. Corn was considerably weaker. IdbI oral receipts at the primary markets j and a less favorable foreign outlook | encouraged the bearish sentiment after prices had followed wheat on the early advance. Oats prices followed wheat to moderate advances over Saturday's lig- | urea. There was a lack of features and an absence of snap to tho trade. Provisions were about unchanged from Saturday's levels. After a strong i opening, selling by local commission houses pressed prices to slight recessions. CHICACO GRAIN TABLE —Sept. IS—i By United Financial 'WHEAT—' Open. Hik-1). Low. Close I Sept... 1.01% 107 101% 105 % I>ee ... 1.03 4 1.07% 1.03 . 1 .tl.'i % i May... 1.00% 111 % 100 % 1.09 % I COR N — | Sept... .03% 6.a % .03% .03% I Dec 67 % ..*% .57% 67 % ' May... .61% ti! % .00 % .01% OATS— Sept... 37% 37% .37% .38% tie.'..,. .36% .36% .36% .30 % May . . .38 % .37 % .38 % .38 4 LARD— Sept... 10.5.1 10 65 10.47 10 47 (1et.,.. 10.57 10.67 1043 10.43 RIBS—•Sopt .92 Dee . 9.93 10.00 9 90 9 90 UVK— Sept. . 71% .74% .71% .73% I<. . . .70% 73 .70% .73% May... .74% 77% .74% .76% -Nominal. CHICAGO CASH GRAIN 'By Unit)'l Financial CHICAGO. Sept. 18.—Wheat—No 2 red. <1 11%: No 3 hard. $1.09%. Corn—No 1 yellow. 04 % r No 3 yellow. 04 4'" 0.1 %e: No 3 yellow. 03®034e: No I vel low. (12®02e. No 6 yellow, oO®ole No 0 yelow, 69 4®60 %e ; No. 1 mixed. 01 % e No. 3 mixed, 64%®04%e; No 3 mixed. 64 ®O4 4e; No 4 mixed. 03%®03*e No. i 6 mixed. 03®03%0; No 0 mixed. 02 4® 03 %e. No. 1 white, 03 %e: No. 2 white. 01 %e: No 3 white. 63® 03 4e: No 4 white. 61 ® 03e; No 5 white. oO®ole y., 0 white, 69 Vie. Oat* —No, 3 w hite. 38 4® 30c: No. 4 white, 37%0. standard. 30 4 ® 38c. INDIANAPOLIS CASH GRAIN I Bids for ear lots of pratn and hay nt the call of the Indianapolis Board of Trade were: I Wheat-—Through billed strong: No. 2 red. ! 51.08 4 ® ill. ! Corn—Firm: No 3 white, 56®57e: No. 4 white. 66 ® .'die No. 3 yellow. 60®67r; No. t yellow . 66® 66c No 3 mixed. 56 4® 56%e:c; No. 4 mixed. 56® 60C. Oats —-Firm: No. 1 white, 30® 36’4c: No. 3 white, 36 4 ® 300. -—lnspections Wheat—No. 1 ml. 1 ear: No. 4 red. 1 ear: No. 5 red. 1 ear: No. 2 hard. 1 ear: No. 1 mixed, 1 car: sample. 4 ears. Total, 9 ears. Corn —No. 1 white. 2 ears: No. 3 white, 2 cars No 4 white. 0 ears; No. 5 white. 4 cars; No. 0 white. 3 ears: No. 2 yellow, 4 cars: No. 3 yellow. 3 ears; No. 4 yellow. 1 ear; No. 5 yellow. 0 ears: No. 0 yellow. 1 ears; sample yelow, 1 ear: No. 2 mixed. 1 ear: No. 4 mixed. 1 car. Total. 38 cars. (i a t,*_.jXo e white. 14 ears: No. 3 white. 3 earn- No. 4 white. 1 ear. Total. 18 ears Itye-—No. 2. 1 ear: No. 3. 1 car; naniple. 1 ear Total. 3 earn Total number of earn for day. 68. Grain prices quoted f. o. b. basin, 414 c to Now York. PRIMARY MARKETS (Thompson A McKinnon) —Sept. 18— Receipts Wheat. Corn. Oats. Sioux City .. 14,000 35.000 24.000 St Joseph .. 100.000 3.000 52.000 Chicago .... 107.000 703.000 207,000 j Milwaukee .. 25.000 176.0(H) 135.000 : Minneapolis .1,089 000 50.000 266.000 Duluth 603.00(1 63,000 St lauds ... 200.000 159,000 112.000 Toledo 34.000 36,000 4,001) Detroit 14.000 12.000 20.000 Kansas City.. 631.000 35.000 41.000 Peoria 19.000 120,000 90.000 Omaha 101,000 105.000 88.000 Indianapolis . 14 000 47.000 192,000 Totals ....2,965,000 1.565,000 1.244,000 Year aro 2,221.000 16,000 1,135,000 Shipments Wheat. Com. Oats. Sioux City .. 1.000 24.000 10.000 St. Joseph .. 19.000 24.000 2,000 Chicago 122.000 773,000 290.000 Milwaukee .. 8.000 86,000 176.000 Minneapolis . 277,000 10,000 304.000 Duluth .... 27.000 140.000 St. Louts . . . 79.000 63,000 44.000 Toledo 7.000 8.000 4.000 Kansas City . 184.000 24.000 3.000 Peoria 18.000 93,000 68,000 Omaha 74.000 4 5.000 18,000 Indianapolis . 1,000 126,000 62.000 Totals ... 817,000 1,405.000 973.000 Year ago ...1,367,000 1.687,000 370,000 Clearances Wheat. Corn. Oats. New York .. 118.000 3.000 114.000 Philadelphia . 9.000 43.000 New Orleans. 241.000 98,000 Galevston .. 240,000 43,000 Totals .... 608.000 187,000 114,000 LOCAL WAGON WHEAT No. 2 wagon wheat, 98e. No. 3 white oats. 30c. RAW SUGAR MARKET Ry United Flnanrial NEW YORK. Sept. 18.—-Raw l sugar opened steady: Septemt>er. 3.040, asked; December, 3.14®3.15e; March, 2.n7J2.97c: May. [email protected]: July. 3.24*3.25c.

PAGE 01 NEWS TAKES INTEREST FROM MARKETS Ford, Turks and Bonus Bill on Peoples' Minds—Not Dangerous to Business. By THOMAS C. SHOTWELL (Copyright. 1922, by United Financial) NEW YORK. Sept. 18.—Henry Ford, the Turks and the bonus bill are on people's minds. Foreign exchange, particularly Sterling, seems to be drooping logically. Everything else is looking well economically. Even these problems are not nearly so dangerous to general business as the public seems to think. Ford’s strike Is the first one of importance ever made by capital. Sympathetic strikes by union labor have been common and they always have hurt the causes they were called to j help. So with Ford’s remarkable | strike. j That he will injure the public is quite true, but ft is also true that he will hurt the cause of capital. Such j arbitrary action demonstrates the. power of great industrial leaders. With a hundred thousand men ruthlessly thrown out of work public opinion. in regard to the abnormally high wages with life and death power on the part of the man who pays them, will be vised. Ft it a moral protest. c will suffer through Automobile men point d's costs may be rising and -gin falling and he can seize the lay off as an opportunity to adjust his charges. As to the Turks, their action is only what might have been expected in view of remarkable policy of Chns- • n nations. It is Inconceivable that i general war should result. Veto of the bonus bill by President Harding will remove an old sore from the financial world. The question Is regarded as one of finance in the • irst place and of patriotism second. Should the bill become a law It will shock the security market at first, But within a few days will be turned nto an argument for higher prices because of the secondary Inflation it will cause. CHICAGO HOGS ADVANCE < attic and Sheep Range From Active to Steady. I By United Financial i CHICAGO, Sept. 18.—Hog prices . were about 10c higher at the Chicago stockyards today. The trade was j : slow Receipts were 38.000. with ai ; slim carry over supply from last i week's trade Shippers bought moderately. but the packers had taken a; liberal supply in direct shipments and bought in scant quantities. Cattle trading was active. Prices were steady to strong Receipts wore 24.000. of which the killers took only | .100 in direct consignments from other ! markets Good and choice grades were j fully steady to strong, but there was ! some weakness evidenced in the j poorer classes. Sheep and lamb prices were fully steady, flood demand from the East and heavy buying by shippers was somewhat counteracted by a run of undesirable stock that sold at lower figures. Receipts were 24,000, of which the killers took more than 4.000 direct from other trading points. INDIANAPOLIS STOCKS —Sept. 18Mocks Bid. Ask. Ind Ry A Llrht com 58 ... Ind Uy. &. Liflrht pld 85 90 Indpl* N W pfd 45 Indpls & S F* pfd 00 Irulplo St. Ky 58 .. • TH.TAL pfd 80 T H. 1 A L pfd 75 T H I St K eom 1 0 TH I t E pfd 7*4 ... [ T T of Ind coin 2 U T of Ind l*t pfd 10 V T of ind 2(\ pfd 2 0 Advanee-Kunieiy pfd Advance-Kumely com ... Am Creosotlng; pfd 98 ... Belt K R com 58 Belt It R Pfd 51 *4 Century Bh.sr Cos pfd... 95 ... Citizens Gns Cos 21 H Citv Service <*om 201 295 i City Service pfd 09 H 71% American Centra! Life In*. . . .200 Dodgre Mff Cos ... Home Brewing 40 ... Ind Hotel com 88 ... 1 < ifd 99 Tnd Nat l Life In* Cos 2 ... Ind. Title Guarantee 50 ... Tnd Pipe Line .... .. 94 98 IndpM Abattoir pfd 40 ... > Tndple Gan 49 S ... j Indpl* Tel pfd 90 ... TndpN Tel com 1 ... Mer Bub Util pfd 52 ... : Rnuh Fertilizer Cos 49 ... Tat'l Motor Car Cos 1 *4 3Vi Pub Savin** In* Cos 0V ... ! standard Oil of Indiana. . . . 110 i Sterling Fire Insurance Cos. . .7 8% Van Camp Hdw pfd 90 ... } Van Camp Prod Ist pfd 97 101 Van Camp Prod. 2nd pfd. ...... ... ! Vandalia Coal Cos. com 1 0 Vandalia Coal Cos. pfd 7 ... Wabash Ry com 11 ... Wabash Ry pfd 31% ... Bonds Broad Ripp es* . 02*4 ... Citizen* St. It R 5* 84 ... Indian Creek Coal & Min 0.. .. ... Tnd Coke and Ga* 0a 80 91 Indpl*. C ft 8 5s 92H ... Indpl* f* Martlnavillo 5*.... 58 ... Indpl* Sr Northern 5* 52 50 H Indpl* St. Ry 4* 07 70 Indpl* Sc X W 5a 50 ... Indpl* Sc S TI 6* 40 ... : Indpl*. Shelby & 9 E 5* 00 T IT T & E 6s 71 75 ! Citizen* Ga* 8892 Tndpls Ga* 5* 90% 9.5 Kokomo. M. Sc W. 5s 90 Irdisna Hotel Cos 0* 190 ... Tndpls Water 4%l 82 ... Indpl* Water 5* 90 *4 97 Tndpls TAT os 94 j 95 rndpls Ti Sc H 5s . . 94 Vi 95 IT Tof Ind 0* 03 H ... Mer H. &L. 5s 99*4 ... New Tel L D 5* 98 New Tel Ist 0* 98 South Ind Power Os 87 93 Bond Bale: Indianapolis Water 5, SI,OOO at 97. INDIANAPOLIS PRODUCE Kkf. —Frr.ii randird, 31r. Butter— Parking stock. 21c; fowl, 4 lbs. up. 22c: fowl, under 41b.. 17c: leghorn fowl and springs, 25 per cent discount: springs, 2!b. under. 25c: springs, over 2 lbs., 21c: cox and stags. 11c; young torn turkeys. 12 lbs. up, 25c: young hen turkeys. 8 lbs. up. 2oc: old bom turks, 2Or ducks, 4 lbs. up. 15c; geese, 10 lbs. up. 12c; squabs. 11 ibs to doz., $5: young guineas. 1% to 2 lb. size, per doz., 57. LINSEED OIL By United Financial NEW YORK. Sept. lfi. —The market for linseed oil was rather dull and steady with offerings moderate and demand fair. Domestic spot 88 November. December. 70c; January. April. 70@77%c. Foreign oil spot. 80®82c: shipment. 72c: nominal. Little interest in foreign oil owing to prospects of the tariff becoming law next week. NAVAL STORES SAVANNAH. Ga.. Sept. 16.—Spirits market firm: regulars. ?1.24: sales. 164. Rosin market firm: WW, $6.50®6.67%: WG. [email protected]%: N, $6.45®5.50: M. $5.35® 5.40; K. $5.35: I. H, G. F, E. D. B. $5.25® 5 35. Sales, 083. Spirits receipts, 402; shipments. 1.893; stocks, 10.058; offerings, 154. Rosin receipts. 1.584: shipments. 3,300: stocks. 97,815: offerings, 983.

EXPECT BETTER TRADE Textile Healers Welcome Fall Weather. By United Financial NEW YORK, Sept. 18.—Jf the theory that real fall weather is what the dry goods and textile trade needs, traders should be cheeied here today. That seasonable weather will help the trade is undoubtedly true. The early enactment of the new tariff bill will be another helpful factor. The dry goods and textile men are of j course far from giving general ap- j proval to the new bill, but they do ! agree that its enactment will let them I know exactly where they stand and j take away one of the uncertainties that has been bothersome. These factors, with the ending of i the strikes and the fact that stock in distributors hands generally are not large, give the trade here a more optimistic tone than it has bad for some time. Normally the trade would be looking toward spring at this time, but there is still a large amount of fall ordering to be done and all signs now j point that this ordering will continue j in small units with frequent repeats, j APPROVE STEEL MERGER Lackawanna Stockholders Vote Favoring Absorption. I By United Financial j BUFFALO, N. Y., Sept. 18. —Stock- 1 holders of Lackawanna Steel today ’ approved absorption of the company by Bethlehem. There was no opposition to the merger. It also was voted to approve the proposed readjustment of capital. There are now i four classes of stock outstanding and j this creates more or less confusion and misunderstanding on the part of the public. In the future there will I be only two classes, 7 per cent cumulative and common. There will be I $77,000,000 of the preferred and SS2,-| GOo.OOO of the common. The shareholders voted today to au-! thorize $15,000,000 new preferred stock : to make improvements on the Lacka ! wanna plant and ti hold $38,000,000 ! new common stock in the treasury to declare dividends, or to buy other properties. Directors have decided to pay no more dividends this year out of the 1022 earnings. Last April dividends of 2 per cont were declared on both the preferred and common stock, but the courts declared that payment could not he made until the pending I light between the preferred and com- i mon shareholders is settled. That ease conies up in the courts this December. TERSE MARKET NOTES By T r nitcd Fiti'tncial NEW YORK. 9ept. 18— Reports from thvarious titee. and iron mm T s gather.-.! show that Improvement is taking place in the trade not only as concerns resumption ! of operation, but also demand i quickenin'.- ! 1 arP he'easong business ti-Id Op b> tlie stri.ic. Mee) companies, sure o' ! I fuel arc accepting business freely, but r;u.road embargoes and a r.ir shortage are in some cases hampering shipments. NEW YORK—A sc:i race in which hun- ■ deeds of thousands of dollars is at stake is now on. Several ship, are rushing to New lork In an attempt to reach here and d;s,h,‘ > r dutiable cargoes through the customs house before It- :.t Hardinv Algn. the new ta:-i!T Dill raising duties if the, 1 resident delays until the middle of the week the ships probably will make port. WASHINGTON.—Today the Department ■ of Labor reports that no change occurred in the average wholesale s-dling price of 40t commodities for the month ending Aug 15 the figure remaining at 155. the same a-i that for the middle of July. For the latest period covered farm products and food stuffs wero off, but all other prices were up. WASHINGTON—Cotton seed. excludinc reshlpments. re.vlv.-d at mills during August °L l°lAlled 90.931 tons compared with 120.291 tons for August. 1921 the census bureau repoired today. Crush.® seed for this August totaled 48 - M 0 tons compared with 99.30S for last August. NEW YORK—An involuntary petition in 1 bankruptcy lias been fil.vl in the United ! States Distri-u Court against the Haller Car I and Locomotive Corporation of 25 Broed- I way Liabilities are m excess of $1 000 000 i There is no mention of assets. NEW YORK—The softening of coal prices has halt.® in this market and tlobelief Is that tliis week mav see some advances. Buyers have been holding off because of falling prices, but now the car shortage threatens to stiffen the market. MARRIAGE LICENSES Lon Franklin. 2059 Yandes St.- Marv A Lander. 1900 Yandes St. W. L. Ross. Chicago. Mildred Van Vliet loot) N. Illinois St. Hersehel Thomas. 925 Indiana Ave • Katherine M. Murray. 1115 w. TwentyThird St. (laude C. Jenkins. 802 Broadway: Audrey B. Smith. 637 % Maaachuaetts Ave. Earl L. Sparks. 610 N. Alabama St Leona A Cook. 321 Pile Ave. l’aul D. Meyer, 2506 Prospect St.; Anna A. Weaver. 1115 St. Paul St. John H. Clay. 602 W. Twenty-Sixth St ; i Thelma Taylor. 602 W. Thirteenth St. j John M. Hayden, New York City: Rose [ M. Vailkommer, New York City. William Cross. 412 W. Fifteenth St • Ida M Garrott. 412 W. Fifteenth St. Shelby E. Cox. 425 Oliver St.; Mabel M. Connor. 730 Fulton St. Hary R. Bowden. 2908 Sacket Ave.; Marv A. Haxton, Hotel Severin. Charles E. Smith. Greenfield. Ind.: Mrs. Anna E. Young, CJavpol Hotel. Frexite B. Henderson. 83S W Tenth St • Julia Grant. 940 N. California St. Clyde F. Alfred. 820 Edison Pi.: Thelma A. Seymour. 830 Edison PI. Clarence. E. Prater. 1042 W. TwentyEighth St.; Grace M. Wise, 2523 N. Delaware St. James W. Denham. R. K. E. Rox 385 E: Rosa Mae Denham. R. K E. Box 385 E. John Haynes. 194 S. Yandes St.; Nannie M. Stout. 2044 Martindale Ave. Haul S. Grant, 24. Oniixla St.: Margaret 1 J. Evans. 4143 Roekwod Ave. Arthur F. White. 74 N. Holmes Ave.; ] Mildred W. Conrad. 17 S. Tremont Ave. Earl Slater. 313 Caven St.; Oma F. i Fletcher. 1124 River Ave. BIRTHS Girls Joseph and Carolyn Webber, 2209 E. New York. Howard and Helen Robinson, Long Hospital. George and Pasqualina Stewart, 532 E. Georgia. James *and Pearl Higgins, 267 S. Keystone. Connell and Lillian Morris. 1524 Draper. ! Raymond and Agnes Stadler, 1422 E. Ter- j race. John and Mary Chris, 1805 Blouveward n. John and Mary Johnson, St. Vincent Hospital. Chester and Sarah Cave. 2814 N. Gale. Sims and Dolly Seaggs. city hospital. George and Kathryn Smith, city hospital. George and Virgie Hendricks, eity hospital. Dale and Graco Hogue, city hospital. Itoys William and Helen Binder. 77 Brookville. Panos and Effie Pettas. 519 W. Washington. Ray and Oneida Perryman, 521 W. Fortieth. John and Molly Wilson, f t. Vincent Hospital. Elsworth and Virginia Walker, city hospital. DEATHS Isaac T. Luell. 65. 922 Hadley, pulmonary tuberculosis. Rei Parker Devor. 73, 3436 Guilford, cerebral hemorrhage. Albert Stone Johnson. 3. 3414 Bireliwood, encephalitis. Robert B. Cowen, 78, 2026 Talbott, paresis. Paul Schneider, 47, 1531 Union, pulmonary tuberculosis. Gilbert B. Manlovo. 42, 36 N. Brookville, uremia. Jessie Barnes. 37, 1605 W. Ohio, pulmonary tuberculosis. Juanita Marie McCoy. 24. 1019 Wilcox, pulmonary tuberculosis. Fr<® Jefferson Judkins, 5 months, St. Vincent Hospital, malnutrition. Archibald C. Moneymaker, 70, 374 N. Holmes, uremia. Infant Sperlook, 6 days, 1126 Villa, premature birth. Mary Criqui, 92, 1204 Calhoun, arterio sclerosis. Jula G. Bates, 34, 1045 Belle View, septicaemia. George W. Small, 67, 1528 English, chronic nephritis.

CUbITA, 10, lj3£a

GRAND!! CUES AGAINST SHOPMEN MASSOFfARSAE, Attorney Richberg Declares Government Has Failed to Make Case. ; By United Press CHICAGO, Sept. 18.—Branding tha | Government’s case in the Daugherty injunction hearing as a mass of hearsay, rumor, speculation and opinions, Donald A. Richberg, attorney for the shop crafts, opened tho arguments for the defense today. "These affidavits offered by tho | Government in many cases do not 1 mention names. They merely assert | that ‘strikers’ are responsible for cer- | tain actions from bittei words to murj tier. No Definite Connection "They do not definitely connect any member of the shop crafts organization with any act of violence. They j are merely hearsay, j “Many of tho acts of sabotage may i have resulted from poor equipment. We are prepared to prove that the railroads have used hundreds of locomotives in violation of the law." Richberg explained that he repre- - nted the shop crafts organization in* : directly, but that he was the personal i attorney of Bert M. Jewell, president of the Shopmen’s Union, and John Scott, secretary. GGAL PRICESIP) * PGBLOEAMED Government Explains Why Quotations Go Higher All Over Country. By C. C. LYON Times Staff Correspondent WASHINGTON, Sept. 18.—In spite -of the fact that practically all the coal mines of the country are now in operation, coal prices are shooting upward again. The country-over average spot ! price nt the mines during the week of Sept. 11 was $5.17 a ton, as compared to $5.08 a week before. I Blame is placed by the Government ! on sporadic buying by the public. Coal j users have been holding off with their ’ orders, hoping for a decline, and then i the price shoots up when they rush in with imperative orders that neither ! the coal supply can meet nor railroads handle. , The present- situation carries a warning to the public that prices will go back to mid-strike heights if conI stimers, particularly domestic consumers, put off buying their winter supply until cold weather sets in. ■must Hue NEAR EAST IGA' Mead A. Kelsey, Just Returned, Says Desertion Now Would Be Crime. Mead A. Kelsey of Greenfield, secretary of Indiana Near East Relief, who reached the city today, filled with the tragedy of the Near East, declared that the United States must carry on in this unfortunate country. | if not politically, i na. humane way. Secretary Kelsey spent two months in Turkey. Syria and Palestine. One month ago Kelsey was in Smyrna, then a comparatively peaceful city. "When I left Indianapolis,” said the secretary, "I gave the promise to my Indiana friends that I hoped to be | able to give them on my return my | opinion of how long this relief work | must go on. I have seen thousands ! of children whose only hope of life is the generosity of our country. I dei sire to say this: It was the general : feeling of our party that it would be less a crime to shoot them than to be guilty of desertion at this stage of the game. What will happen is that these children cared for and trained In American ideals will become the social and perchance the political saviours < the Near East.” Kelsey declared the Turk has greaw respect for tho American flag. “I feel , that no matter what happens the j Stars and Stripes will afford proteci tion wherever it floats over our Anierj icans.” he said. 9.000 GUESS ON GEMS Counters Are at Work on Circle Theater I’earl Stunt. The pearls in the Norma strand, on exhibition last week in the lobby of th< Circle Theater, wore being counted today. These pearls were worn by Norma Talmadge when she appeared in “The Eternal Flame.” More than 9,000 persons, the Circle Theater management aannounces, submitted estimates of how many pearls were in the string. The Times will announced the name of tlie person making the nearest correct estimate of the pearls as soon as the count has been completed. The nearest correct estimate-maker will be given a string of the Norma pearls from the L. 8. Ayres & Cos. store. ROAD IS DANGEROUS Hedges Obstruct View at Thirtieth and Cooper Ave. Hedges at Thirtieth St. and Cooper Ave. make the intersection dangerous, citizens complained to tho county commissioners today. They wero referred to Warren' Rumford, county superintendent of roads, who has charge -Jx such affairs, the commissioners sai^JA Approve Plant Purchase A hearing on the approval of the purchase of the Oakland City Electric Light and Power Company by the White Valley Power Company of Princeton, was held before the public service commission today. The matter was taken under advisement.